Category Archives: Oil

Russian economist Vladislav Zhukovsky says this situation is made worse by the fact that many at the top of the Russian economic pyramid are behaving as they did in 1998, betting on an ever weaker ruble by buying hard currency and then planning to get back into the Russian market later at fire sale prices and thus improving their position but not the country’s.

By Paul Goble* for “Window on Eurasia”:

August 14 – Vladislav Zhukovsky, an economist known for predicting disasters in the Russian economy and for then turning out to be right, says that the situation is more dire than almost anyone imagines because oil is heading to 25 US dollars a barrel, the ruble to 125 to the US dollar, and inflation to 30 percent. Continue reading →